The Korea Times
Samsung SDI on Tuesday reported a first-quarter operating loss of 155.6 billion won ($115.3 million) and revenue of 3.58 trillion won, as it sharply narrowed losses and returned to net profit. The company said revenue rose 12.6 percent year-on-year, while operating loss contracted 64.2 percent. Net profit came to 56.1 billion won, marking a return to profitability. By segment, the battery business generated 3.35 trillion won in revenue and posted an operating loss of 176.6 billion won, while the electronic materials business recorded 222 billion won in revenue and an operating profit of 21 billion won. Samsung SDI said battery performance improved as demand recovered across key applications, including energy storage systems (ESS), uninterruptible power supply (UPS), battery backup units (BBU) and power tools. Revenue rose 12.5 percent year-on-year, while losses narrowed by more than 61 percent. The improvement was driven in part by increased Advanced Manufacturing Production Credit (AMPC) benefits, supported by expanded U.S.-based ESS battery production and sales, as well as higher shipm
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